after more than a day of negotiations."Deal done! #euco [European Council] has agreed on #MFF [multi-annual financial framework] for the rest of the decade. Worth waiting for," Van Rompuy wrote on his Twitter account.
The agreement is believed to set a ceiling of €960 billion ($1.3 trillion) on the European Union's (EU) spending for the seven-year period from 2014 to 2020.
It still has to be approved by the European Parliament, a process that could take several months to complete.
The deal follows more than 24 hours of wrangling among European leaders over the long-term budget. A previous summit late last year had failed to resolve the issue.
Source: Deutsche Welle
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